Mesa just announced their 1st quarter numbers (only 90 days late) and they had an operating loss of more than $10 million dollars for the quarter. Their traffic was down 10% year over year. The most interesting statistic is they have only approximately $55 million dollars of unrestricted cash on hand. And that was as of 90 days ago. The key to what happens to Mesa will be this Delta lawsuit. If Mesa looses, they will have no choice but to enter Ch. 11. Depending upon the success/lack their of in bankruptcy court, Mesa will either end up a much smaller version of its former self (a few RJ's for UAX/US Air), or they will go out of business.
saw some pics today of the last day, kinda got to me!....Going to miss that place good plane, good people, bad management! Wish the best of luck to eveyrone crew, ramp, gate agents, mx.
Mesa just announced their 1st quarter numbers (only 90 days late) and they had an operating loss of more than $10 million dollars for the quarter. Their traffic was down 10% year over year. The most interesting statistic is they have only approximately $55 million dollars of unrestricted cash on hand. And that was as of 90 days ago. The key to what happens to Mesa will be this Delta lawsuit. If Mesa looses, they will have no choice but to enter Ch. 11. Depending upon the success/lack their of in bankruptcy court, Mesa will either end up a much smaller version of its former self (a few RJ's for UAX/US Air), or they will go out of business.
Dont know where you got the info but over on yahoo finance it is reported that MAG had a 9.4 million dollar profit! Probably creative accounting but that is what was reported!
Will you guys ever get a contract that allows more than 8 days off a month? Nah... you are on the verge of bankruptcy.
Unreal. Thanks for bringing the profession down. You have been in negotiations for almost a year now with no progress. JO is a jacka$$ and so is anyone that continues to line his pockets.
Wow and to think I can be a tool, sometimes! You didn't even have to say you worked for express jet. That BS attitude toward others is what made people salivate over Skywest potentially buying you guys. Instead your sucker management let CAL whipsaw you against them to bring your $ numbers down. I can't wait for the concessions you'll end up taking once management figures out they can't make those fat bonuses on the new rates. It's a shame I've got some good friends there at XJet, classy people. You bring their professionalism down a notch. Nice job!
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We need to unite as pilots and stop this bickering, fight the good fight.
Dont know where you got the info but over on yahoo finance it is reported that MAG had a 9.4 million dollar profit! Probably creative accounting but that is what was reported!
You are right. Creative accounting. They are accounting for a one time gain of 27.5 million dollars related to the Hawaiian lawsuit that Mesa lost. They posted a bond for $80 million, and only had to pay $52.5 million, so they are counting the 27.5 million dollars as a profit. Gotta love Mesa. It's funny because they never included the $80 million dollars in any of their quarterly losses, but they can suddenly report this 27.5 million dollars as income.
The bottom line is Mesa has had an operating loss for many quarters in a row now, and the most important fact is their unrestricted cash position, which is down to only $55 million dollars. In the airline industry, cash is time. Therefore, Mesa does not have very much time. BTW, that $55 million was over 90 days ago (back when oil was still $100/barrel). My guess is their cash position is much lower than that. Now let's wait and see what happens with their Delta contract. The end is near.
The bottom line is Mesa has had an operating loss for many quarters in a row now, and the most important fact is their unrestricted cash position, which is down to only $55 million dollars. In the airline industry, cash is time. Therefore, Mesa does not have very much time. BTW, that $55 million was over 90 days ago (back when oil was still $100/barrel). My guess is their cash position is much lower than that. Now let's wait and see what happens with their Delta contract. The end is near.
After reading the transcript of the earnings call, JO doesn't state the amount of cash on hand.
Oh, ok I see what you're saying. You think that if we all decided to work for the bottom feeders, oh, just for the fun of it then we would be in the same place? Or even better off. [sarcasm]
Some people have pride and want more than 8 days off a month that Mesa reserve offers.
I don't blame my employer (XJT) because they have to cut costs to match Colgan, Mesa, etc blah blah. That's capitalism. Continental is forcing them into it. However, the people that apply to and work hard to keep bottom feeders afloat don't help! How are ExpressJet pilots ever going to hold their pay rates if Colgan pilots are more than willing to fly more revenue around for less of a salary? ? ?
Standards. Some pilots' standards are much lower than others. However, we are all in the same boat and we know that if one pilot group takes a paycut, their company becomes more competitive against others, therefore forcing potential paycuts all around.
Americans tend to worry more about themselves... there isn't a lot of group think and therefore here we are undercutting each others paychecks all the way to retirement. Just imagine if everyone would resist low wages and set the bar higher. I guess I am just imagining, with folks like you that are comfortable with the way things are, and where they are going.
Big talk from a former Mesa pilot. I know, you're a cut above because you are gone now. A former prostitute was still a ***** at one point...You'll always be an ex-Mesa guy no matter who you work for in the future. So, you contributed to the race to the bottom as well. You're rants are old and tired. I'm pretty sure there'd be a long line of volunteers here to knock you off your high horse if you name the time and place.
Big talk from a former Mesa pilot. I know, you're a cut above because you are gone now. A former prostitute was still a ***** at one point...You'll always be an ex-Mesa guy no matter who you work for in the future. So, you contributed to the race to the bottom as well. You're rants are old and tired. I'm pretty sure there'd be a long line of volunteers here to knock you off your high horse if you name the time and place.
It's not some former Mesas guys fault, this industry was doomed since deregulation. I'm sure you'd know that. Ripping on some poor regional pilot who earns less than a bus driver who rarely comes home to his thankless family is not the way to go. It's easy to say take one for the team but in the real world it's not possible and no one will ever do it. So let's not turn this and the line into the elementary playground and make something constructive. Personally every last one of the regionals is a POS, not just MESA. And with the way things are going the MAJORS are next, mark my words.
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Gotta love Mesa. It's funny because they never included the $80 million dollars in any of their quarterly losses, but they can suddenly report this 27.5 million dollars as income.
And with the way things are going the MAJORS are next, mark my words.
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